In the Community
4th Annual SCU Financial Reality Fair
A unique partnership took place during the month of April between Sikorsky Credit Union, students at Stratford, Bunnell and Seymour High Schools, and local businesses. It’s called a “Financial Reality Fair.” SCU organizes the Reality Fair at each h
- ♦ Each student selected their career, and then deducted taxes, insurance, and student loan expenses from their entry level salary, to determine their available cash flow.
- ♦ They visited expense tables to spend their cash on real-life choices, such as housing, transportation, food, and utilities.
- ♦ Students were tempted along the way with nonessential expenses such as pets, electronics, concert tickets, vacations, and more.
- ♦ Next, they took a chance on the Wheel of Reality, which increased or decreased their cash flow and simulated unexpected events and expenses that occur in day-to-day life.
- ♦ After students visited all of the expense tables, the balanced their budget to see if they made the right choices to successfully live on their own.
- ♦ Finally, students met with volunteer financial counselors who reviewed how well they managed their budget.
In the end, students walked away with an awareness of the financial challenges they will face on their own and the experience of maintaining a lifestyle based on their budget.